Saturday, February 20, 2010

Peter Schiff : The Fed Interest Rate Hike Only Means more cost in servicing The National Debt

Peter Schiff The End Of Easy Money

Peter Schiff is one of the greatest critics of the FED , he was on CNBC answering the questions of easy money hosts about why he continues to short the dollar despite the small rally in US Dollar , he also addresses the issues of the FED raising the interest rate , Peter Schiff is not satisfied about this small increase in interest rate , the FED needs to increase it by much more he said ...We have 12 trillion national debt not counting the off budget items and the agency debt we are going to go 2 trillion dollars in more debt next year and a third of the debt comes dues in the next year , so as interest rates start to move up the cost of servicing this debt goes up and up and up just like for the people who have their teaser rate expire on their sub-prime mortgages ...Peter Schiff explained

Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

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